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Correlation Ventures is a venture capital firm that founded in 2010 and is based in San Diego, California with an additional office in Palo Alto, California. The firm currently has approximately $165 million in total assets under management. The firm typically makes investments ranging from $0.25 million to $5 million over the life of the company, and the first investment will be not larger than $2.5 million. The firm’s preferred capital structure is convertible preferred equity or convertible loan. Correlation Ventures will consider invest in any industry segment at any stage, but there must be at least one other venture capital firm making their first investment in the company in this round. The firm only invests in US-based companies. 

Correlation is extremely opportunistic when it comes to investments in the life sciences space; with that being said the firm's specified sectors and sub sectors of interest may or may not be an area in which Correlation Ventures is currently looking to allocate capital to. The firm has made a number of investments in companies in the life sciences space, and has mainly invested in companies in the biotech therapeutics and diagnostics space. The firm's current portfolio includes biotech therapeutics and diagnostics firms developing products targeting endocrine, metabolic, and nutritional diseases, musculoskeletal system and connective tissue, neoplasms, cancer, and oncology, genitourinary system, and infectious and parasitic diseases.

Headquartered in the greater Iowa City area, Corvida Medical innovates intelligent technologies that are designed to represent the next generation of safe handling of hazardous drugs and excellence in design.  We address the problems inherent in current methods and develop smarter, simpler solutions to improve safety, productivity and quality for providers and patients. Our first technology, a novel new Closed System Transfer Device – the Halo™ — will be available in 2015.

Deton is developing a novel non-invasive simple-to-use sample collection device for tuberculosis (TB) patients who are unable to provide a sample.

Proper diagnosis is essential to effectively treat the more than 9million new cases of TB every year. Typically, a sputum sample is collected to run the diagnostic test. However, in 22% of adults and in all children patients, sputum is impossible to collect. These patients have to rely on inadequate alternative collection methods that are invasive, high-cost, and resource-intensive. With our device, patients can now provide a sample even in low-resource setting and find out their TB status. Deton will enable 26M samples to be tested every year.

After promising clinical data, Deton is now raising $1.6M to build an ISO 13485 disposable product and to obtain pivotal clinical validation. Discussions with multiple potential diagnostic partners and first feedback from experts at World Health Organization show significant interest in adopting the device once effective validation has been completed. 

Diamond BioFund is an evergreen fund that was established in 2013 and is based in Taipei City, Taiwan. The fund is operating from a committed capital of USD 300 million. The fund makes equity investments in early- to late-stage private businesses. Typical allocations range from USD 1.5 million to north of USD 10 million. The fund likes to lead investments in Taiwan-based businesses and co-invest in businesses overseas. The fund is currently seeking new opportunities in Taiwan, Greater China, Southeast Asia, US, Canada, and EU.

Diamond BioFund takes a generalist approach when considering life science opportunities, including therapeutics (small molecule and biologics), medical devices, diagnostics, healthcare services, and nutraceuticals. The fund is seeking cutting edge, innovative, and platform technology. In therapeutics, the fund considers all stages from preclinical through pre-IPO. In medical devices, the fund prefers later stage projects with proof of concept. The fund is open to all disease indications.

Easton Capital Investment Group is a venture capital firm based in New York. Easton Capital invests broadly in the life science sector, and considers investment opportunities globally. The firm is likely to make 4-6 allocations in the next 6 months. Allocations typically vary from $250,000 to $5 million, in the form of equity or convertible debt. Allocations are typically made at the venture stage of development, but may be made in seed rounds if a company already has proof of their product's efficacy.

Excel Venture Management is a venture capital firm that was founded in 2008 and is based in Boston, Massachusetts. The firm has managed one fund with committed capital of $125 million, and the firm is currently raising the second fund. Excel Venture Management seeks to make equity investments into life science companies from early to late stages. The typical investment size ranges from $3 million to $ 5million. The firm plans to invest in 4-5 companies over the next 6-9 months and prefers to invest in companies based in US.

Health Beacons is an early stage medical device company that is revolutionizing the standard of care for marking and surgically removing non-palpable breast tumors. Physicians are actively seeking an alternative procedure and are enthusiastic about ours, which employs RFID markers that are read with handheld readers, because it addresses all the shortcomings of the current method.  We have a fully functional prototype that has been used successfully in almost 40 human cases and are working on our 510K submission. Investment to date has been from founders, friends and family.  We are currently seeking $1.5M in an equity round to support regulatory clearance, and will require another $2-3M for commercialization which is planned for Q1 2016.